Canara bank home loan – interest rate @ 8.35%, apply now wholesale electricity prices by state

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In order to evaluate the overall cost of your Canara Bank home loan, you can use the online Home Loan EMI Calculator/ Home Loan Calculator tool. This will help you to better understand your Equated Monthly Installments (EMI) that will be applicable on the home loan amount availed from Canara Bank. BankBazaar.com offers an efficient and interactive Home Loan EMI Calculator that breaks down this complicated task and simplifies it. Also, this tool offers the following benefits-

• As income proof, salaried beneficiaries must submit their salary slips, salary certificate, form 16, etc. The self-employed beneficiaries must submit self-declared income certificate for an annual income of up to Rs.2.5 lakh. Suitable proof of income must be provided if the annual income is above Rs.2.5 lakh.

Housing loan at present stands at 8.45% for a loan amount of up to Rs.30 lakh. For a loan amount between Rs.30 lakh and Rs.75 lakh, the rate of interest stands at 8.55%. In case of loan amount above Rs.75 lakh, the interest applicable is 8.60%. Applicable deductions will be made as per Pradhan Mantri Awas Yojana. Subsidy Scheme Under Pradhan Mantri Awas Yojana:

As an individual gets older it gets more and more difficult to to apply for a loan as most banks do not service loans to senior citizens. Canara Bank has launched a special scheme to meet the housing finance needs of senior citizens. This scheme will allow individuals aged above 60 years to avail funds from Canara Bank for the construction of a new residence or for the renovation of an existing house at attractive interest rates and convenient repayment options. The various features, charges and interest rates associated with this scheme have been below.

• When the loan amount is Rs.10 lakhs or below the Stamp Duty, Registration Charges and other Documentation Expenses may be included in the Project Cost to fulfill the stipulated margin or to maintain the LTV Ratio. In cases where the borrower avails a loan amount exceeding Rs.10 lakhs no documentation expenses will be included in the project cost and the margin will be calculated as a percentage of the basic project cost.

Processing charges will be charged at 50% of the prevailing charges on general home loans. Processing charges for general home loans is presently 0.50% of the loan amount with a minimum of Rs.1,500 and a maximum of Rs.10,000. Canara Bank Home Loan Plus

In many cases people avail loans from Canara Bank and then realize that their expenses are more than what they estimated or decide to furnish their house, to service these needs of customers Canara Bank has introduced Canara Bank Home Loan Plus. Canara Bank Home Loan Plus allows borrowers to top up their home loan account to meet new or unforeseen expenses during the construction of purchase of a house. The special features, charges and applicable interest rates for Canara Bank Home Loan Plus have been listed below.

Canara Bank has introduced Premium Loan that are targeted at servicing the housing finance needs of high net worth individuals. As the target market for these loans are high income groups the loans sanctioned under this scheme are for large projects and the loan amounts available to the individual are high. This scheme can be availed for the construction of a residential house/flat or for the purchase of a plot for construction or for the purchase of house/flat.

India is an agriculture based nation and a large majority of our population is engaged in agricultural activities or allied activities. As the income for this industry is not continuous many agriculturists find it hard to access funds for building a house. Canara Bank has launched Home Loans for Agriculturists to address the financing requirements of individuals engaged in agricultural activities across the country. The various features of this loan scheme have been discussed in detail below.

A maximum loan tenure of 30 years or until the borrower attains the age of 65 years, whichever is earlier, will be given to the borrower. The loan can be serviced on a monthly/quarterly/semi-annually/annual basis depending on the income generation of the individual.

Canara Bank has introduced a housing scheme for its Non-resident Indian customers to allow them to access the finances they require to purchase a home in India. This scheme is a customer centric and is easy to understand. The various features and interest rates applicable have been listed below.